Tag: Importance of Project Portfolio Management

Portfolio management has so many advantages. And with that being said, more and more organizations in the business industry benefit from it. From project success to reaching the business objectives, portfolio management is a key player for organizations. But what does portfolio management want to achieve? Sure, you have all the advantages and functions, but why does portfolio management exist in the first place? The objectives of portfolio management are far and wide, but they basically fall into a singular logic. And regardless the size of an organization, the objectives of portfolio management can be applied. The Objectives of...

A clearer understanding of project portfolio management will help you comprehend its benefits that contribute to an organization. In this case, portfolio management is more than just organizing projects into a single portfolio; it also enables companies to conserve time and resources and create transparency in terms of tasks and decision-making. Project portfolio management benefits vary, yet very helpful to an organization. Companies need to be aware of this in order to understand what project portfolio management is conveying. It eschews traditional project management; projects are less vulnerable to risks and they have a greater chance of success if portfolio...

The constant changes in the business industry is a waking call for organizations to establish methods to increase their market profitability in a manner that is quick yet stays within the budget constraints. At the same time, organizations have to ensure that even they stick to the budget or schedule, the data being deployed are precise. Organizations are developing ways on how to keep up with the growing network that can possess these qualities and project portfolio management is thus born. Many people, including those who belong to business organizations, tend to misconstrue, underestimate, and misinterpret project...

Project portfolio dashboard is an effective tool used to track metrics and progress within the spectrum of an organization’s portfolio. It also gives perspective on the status of the projects as well as funds and milestones. Project portfolio dashboards help understand how tasks mirror with the organization’s objectives. They serve as storytellers for both the process and progress of portfolios and projects. However, some don’t use project portfolio dashboards properly, so they end up being ineffective. There is clearly no sense to pursue something you don’t have full knowledge of, let alone what are the exact details you are...